Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
EUR/USD edges higher amid upbeat market mood
2021-02-16 • Updated
Ichimoku Kinko Hyo
USD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
Fibonacci Levels
XAU/USD: Gold after further weakness is trading below the 38.2% retracement area while silver gains.
US Market View
Global shares rose for the 11th day in a row to reach a peak on optimism about the rollout of COVID-19 vaccines and new fiscal aid from Washington, while tensions in the Middle East drove oil to a 13-month high. As more people are vaccinated across key markets such as the United States, and with US President Joe Biden looking to pump an extra $1.9 trillion in stimulus into the economy, the so-called reflation trade has gathered steam in recent days.
Oil prices soared on Monday to their highest in about 13 months as vaccine promised to revive demand and producers kept supply high. Russian Deputy Prime Minister Alexander Novak supported that the global oil market is on a recovery path and the oil price this year could average $45-$60 per barrel.
USA Key Point
- More upsides than downsides for oil in the 1st half of 2021.
- USD/JPY climbs to session high.
- Gold continues to struggle for direction to start the week.
- Cable stays on the hunt towards 1.4000 as the dollar keeps more vulnerable for now.
- EUR/GBP on track towards fresh nine-month lows.
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Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...